COMMISSIONER OF INCOME TAX CENTRAL vs. VIJAY PARKASH MAHESHWARI

ITA No. 99 of 2013(O&M) ITA No. 99 of 2013(O&M) ITA No. 99 of 2013(O&M) ITA No. 99 of 2013(O&M) 1 IN THE HIGH COURT OF PUNJAB AND HARYANA IN THE HIGH COURT OF PUNJAB AND HARYANA IN THE HIGH COURT OF PUNJAB AND HARYANA IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH AT CHANDIGARH AT CHANDIGARH AT CHANDIGARH ITA No. 99 of 2013(O&M). ITA No. 99 of 2013(O&M). ITA No. 99 of 2013(O&M). ITA No. 99 of 2013(O&M). Date of Decision : 18.12.2014. Date of Decision : 18.12.2014. Date of Decision : 18.12.2014. Date of Decision : 18.12.2014. Commissioner of Income Tax (Central), Ludhiana Commissioner of Income Tax (Central), Ludhiana Commissioner of Income Tax (Central), Ludhiana Commissioner of Income Tax (Central), Ludhiana ...Appellant ...Appellant ...Appellant ...Appellant Versus Versus Versus Versus Sh. Vijay Parkash Maheshwari Sh. Vijay Parkash Maheshwari Sh. Vijay Parkash Maheshwari Sh. Vijay Parkash Maheshwari ...Respondent ...Respondent ...Respondent ...Respondent CORAM: CORAM: CORAM: CORAM: HON'BLE MR. JUSTICE RAJIVE BHALLA HON'BLE MR. JUSTICE RAJIVE BHALLA HON'BLE MR. JUSTICE RAJIVE BHALLA HON'BLE MR. JUSTICE RAJIVE BHALLA HON'BLE MR. JUSTICE B.S. WALIA HON'BLE MR. JUSTICE B.S. WALIA HON'BLE MR. JUSTICE B.S. WALIA HON'BLE MR. JUSTICE B.S. WALIA Present: Mr. Rajesh Katoch, Advocate for the appellant. Mr. Pankaj Jain, Senior Advocate with Mr. Sachin Bhardwaj, Advocate for the respondent. *** Rajive Bhalla, J. Rajive Bhalla, J. Rajive Bhalla, J. Rajive Bhalla, J. By way of this order, we shall dispose of ITA No. 99 of 2013 (Commissioner of Income Tax (Central), Ludhiana Vs. Sh. Vijay Parkash Maheshwari), ITA No. 128 of 2013 (Commissioner of Income Tax (Central), Jalandhar Vs. Sh. Ravinder Kumar Maheshwari) and ITA No. 204 of 2013 (Commissioner of Income Tax (Central), Ludhiana Vs. Sh. Subhash Chander Maheshwari). The revenue is before us challenging order dated 29.11.2012 on the following substantial questions of law :- “i) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding the gifts made by Sh. Surinder Kumar Maheshwari to the assessee and his two brothers almost in equivalent amounts to each to be genuine without adjudicating upon the capacity of the donor? ii) Whether, on the facts and in the circumstances of the case, the ITAT was right in law in directing the A.O. to reconsider the genuineness of the gifts when the KANCHAN 2014.12.23 15:38 I attest to the accuracy and authenticity of this document Chandigarh

ITA No. 99 of 2013(O&M) ITA No. 99 of 2013(O&M) ITA No. 99 of 2013(O&M) ITA No. 99 of 2013(O&M) 2 addition made by treating the gift as not genuine is justified in view of the judgment of the Hon'ble Punjab & Haryana High Court in the case of Lal Chand Kalra Vs. CIT 22 CTR 135 (P&H)? iii) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in directing that if any addition is sustained in the hands of the assessee, the same should be offset with the surrender in the firm in which the assessee is a partner to the extent of his share? iv) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in deleting the addition of `20,07,300/- made on account of NRI gifts and simultaneously restoring the issue to file of A.O. with certain direction?” Counsel for the parties are ad-idem that as the Tribunal has based its opinion on an earlier order which has been set-aside, it would be necessary for the Tribunal to adjudicate the appeal filed by the assessee afresh and in accordance with law. In view of the consensus between counsel for the parties, the appeals are allowed. The order passed by the ITAT is set-aside and the Tribunal is directed to decide the appeals afresh and in accordance with law within six months from the date of receipt of a certified copy of this order. (RAJIVE BHALLA) (RAJIVE BHALLA) (RAJIVE BHALLA) (RAJIVE BHALLA)

JUDGE JUDGE JUDGE JUDGE (B.S. WALIA) (B.S. WALIA) (B.S. WALIA) (B.S. WALIA) JUDGE JUDGE JUDGE JUDGE December 18, 2014. December 18, 2014. December 18, 2014. December 18, 2014. kanchan KANCHAN 2014.12.23 15:38 I attest to the accuracy and authenticity of this document Chandigarh